You are on page 1of 20

Industry Background

• The insurance industry of India consists of 51 insurance companies: 24 are in Life Insurance
business 27 are non- life insurers

• Among the life insurers LIC ( Life Insurance Corporation) is the sole public sector company

• The insurance sector in India is expected to attract over Rs. 12,000 crore (US $ 1.76 billion ) in
2016.

Company Introduction

• Started in March 2008

• Joint-venture

• One of the fastest growing

• Customer-centric brand

• CEO – Mr. Vighnesh Shahane


IDBI BANK

IDBI FEDERAL LIFE


INSURANCE FEDERAL BANK

AGEAS
IDBI Bank

• Constituted under Industrial Development bank of India Act, 1964

• Universal Bank with its operations driven by a cutting edge core Banking IT platform

• For over 40 years, has essayed a key nation-building role

• Headquartered in Mumbai

Federal Bank

• Incorporated on April 28, 1931

• Authorized capital of rupees five thousand

• The Bank operates in four segments: Treasury operations Wholesale banking Retail banking
Other banking operations
Ageas

• International insurance group with a heritage spanning more than 180 years

• Ranked among the top 20 insurance companies in Europe

• Market leader in Belgium

• Strong presence as the fourth largest player in private car insurance and the over 50’s marke

Mission & vision

• VISION - To be the leading Provider of insurance plans Adds value to their lives.

• MISSION - Continually strive to enhance customer experience Superior service delivery


Customers in the most convenient and cost effective.
Products of company

• IDBI Federal has 4 major products which cater to the needs of the Indian customers. IDBI
Federal products :-

WEALTHSURANCE INCOMESURANCE

CHILDSURANCE LIFESURANCE
Wealthsurance

• One time premium payment

• Freedom to switch investment among funds

• Guaranteed loyalty additions to boost your investment

• Easy access to your investments through partial withdrawals

• Financial protection for your loved ones

Incomesurance

• Pay the premiums for the first 7 years of the policy

• Guaranteed Annual Payouts irrespective of market condition

• Tax benefits under sec 80 C and sec 10(10D)

• Protection of critical illness benefits

• Life cover & Loan Facilities


Childsurance

• Financial protection against uncertainty

• Guaranteed annual payouts for child’s important milestones

• Bonuses to boost your savings

• Future premiums waived off in case of an unfortunate event

• Plan continues till maturity in unlikely event of death

Lifesurance

• Lump sum payout at maturity

• Double protection – Accidental Death Benefit

• Tax benefits

• Bonuses to boost your savings


Childsurance
Introduction
IDBI Federal Life Insurance Company has two child plans to its customers. While one plan is a
Traditional child insurance plan, the other one is the unit linked plan providing good return
Through market participation. The Plans are discussed below :-

Traditional child insurance plan –

• It is used as a participation plan which earns bonuses.


• Premiums are payable either for the complete plan tenure as per the regular pay option or for
a limited plan tenure as per the limited pay option.
• Money backs are paid in the form of guaranteed annual payouts either in the last three plan
years at 20%.
• On maturity, the last instalment of guaranteed payout and accrued reversionary bonuses
including any terminal bonuses.
• As the death benefit the death sum assured is paid which is higher of the maturity sum
assured.
• Female lives are charged lower rates of premiums.
Traditional Childsurance Eligibility -
Unit linked child insurance plan –

• Premium under the plan can either be paid for the entire duration of the plan under the
regular pay.
• The premium net of charges can be invested by the policyholder himself in a choice of
different available funds.
• Under the systematic allocator option, the company invests the funds initially in low risk fund.
• Guaranteed loyalty additions are added to the fund @3% of the average fund value.
• The fund value is paid on the plan maturity which can be availed in lump sum or in
instalments.
• In case of death of the insured during the tenure of the plan, the sum assured is paid
immediately.
• The plan has a wealth care switcher benefit under which the systematic allocator option is
automatically activated on death of the insured.
• The policyholder may also avail the education support benefit under which the death benefit
can be availed as money-backs in the last 5 policy years.
• Partials withdrawals can be made to meet financial requirement post 5 years of the plan
issuance.
• Unlimited free switches are available to switch between funds.
• Premium redirection facility is also available to redirect future premiums into another fund
than the one originally selected.
Unit Linked Childsurance Eligibility -
Lifesurance
Introduction

IDBI Federal Lifesurance Savings Insurance Plan. A long term savings plan with bonuses,
guaranteed additions and insurance protection.
Often, the first step towards a long and arduous journey is the toughest. However, once you
have taken that first stride, the rest of the journey seems easier and more enjoyable.
When it comes to investments, many of us have the same story. We postpone our investments
in order to meet our current responsibilities. We are also controlled by our belief that unless we
have a substantial amount to save, we will not be able to make much headway.
Everything around us, however, hints at a completely different approach. For instance, little
drops of water make a mighty ocean, many bricks together make a massive building and many
individuals together make a formidable army. With your investments, it is the same approach
that will ensure you build the right corpus to fulfil your dreams for yourself and your family -
start small, save big!
Presenting IDBI FEDERAL Lifesurance Savings Insurance Plan - a fixed term non-linked
participating endowment plan that provides you with the twin benefits of long-term savings and
life cover. With IDBI Federal Lifesurance Savings Insurance Plan (referred to as Lifesurance
hence), your small investments will grow to big savings that will help you realise the dreams that
you have for yourself and your family. This plan also offers you the benefit of life cover that will
provide financial security to your family in your absence.
Lifesurance Eligibility
Wealthsurance

Introduction

IDBI Federal Wealthsurance Growth Insurance Plan -

As a smart and dynamic individual, you have always charted your own path through life. From
the more significant decisions like a career choice to the lesser ones like buying a new car, you
always knew what you wanted. And this determination has always worked in your favour. So
when it comes to investing your hard-earned money, you definitely want to stay in complete
control. Invest and grow your money, your way, with IDBI Federal Wealthsurance Growth
Insurance Plan. An investment solution designed with a range of choices to give you complete
flexibility in steering your investments, exactly the way you want! With Wealthsurance Growth,
you can decide how much you want to invest and for how long you want to stay invested. With a
bouquet of 9 fund offerings, it gives you the freedom to invest in one or more funds, basis your
risk appetite and financial goals in life. Plus it comes with a life cover benefit that ensures
financial security for your loved ones. IDBI Federal Wealthsurance Growth Insurance Plan will be
hereafter referred to as ‘Wealthsurance Growth’ throughout the document.
Wealthsurance Eligibility
Incomesurance

Introduction

Presenting IDBI Federal Incomesurance Guaranteed Money Back Insurance Plan 6 pay, a savings
tool that will make you achieve your goals with its ‘systematic and steady’ approach and
assurance of guaranteed income. The plan requires you to pay for the first 6 years of the plan
and then reap guaranteed returns in the last 6 years. Plus it comes with a life cover and critical
illness feature for the entire policy term of 13 years, to keep your family’s dreams financially
secure in uncertain and unfortunate phases of life. Saving your money in IDBI Federal
Incomesurance Guaranteed Money Back Insurance Plan 6 pay (hereinafter referred to as
Incomesurance 6 pay) is a good way to keep it secure and help it grow. Read along to find out
how this plan works and the benefits it offers.
Incomesurance Eligibility
Our reason to exist, our purpose, is to provide means for people to live a life and lifestyle of
their choice. We achieve that by helping people plan for the future with life insurance.
This focus on human relationships has bolstered our growth over the years. It has helped us
make a positive difference in the lives of all our stakeholders, be it our customers, employees,
shareholders or community in general. Our gross written premium has almost doubled in the
last three years proving that more people are willing to invest in us. In a recent report, published
by IRDAI, we were mentioned as the only life insurance company to have retained over 50% of
our customers for over 5 years, evidence of our constant focus on post sale engagement.
We were declared among the top 10 most trusted life insurance brands in the country, as per
Economic Times’ Brand Equity survey. What is notable is the fact that we are the only second
generation life insurance company to feature in the list. In a short time, we have made
significant progress to gain the trust of people.
While the world measures its success through numbers and financials, at IDBI Federal, we use
additional intangible metrics like strength of relationships, smiles and trust!

- Vighnesh Shahane
CEO, IDBI Federal Life Insurance